VALUE-ADDED TAX as NOUN

1. Meaning
   • a tax levied on the difference between a commodity’’s price before taxes and its cost of production
   Synonym(s)
   • ad valorem tax (what does ad valorem tax mean?)
   • VAT (what does VAT mean?)
   Hypernyms(s) value-added tax is a kind of… Example: animal is a hypernym of mammal, plant is a hypernym of flower
   • excise (what does excise mean?)
   • excise tax (what does excise tax mean?)